Credit Crunch May Have Reached Bottom: Federal...
From Times Staff and Wire Reports
Credit Crunch May Have Reached Bottom: Federal Reserve Board Chairman Alan Greenspan told a Senate panel that the national credit crunch may have reached bottom and predicted “some softening” in tight lending standards in coming months. Greenspan, testifying before a subcommittee of the Senate Finance Committee, stopped short of predicting an economic recovery. But the head of the nation’s central bank has said many times that increased borrowing is a key ingredient for a rebound.
